Silver State Tops Bankruptcy Filing Numbers
Approximately one in every 55 households faced a bankruptcy filing in Nevada through July.
Nevada continued to lead the nation in the number of households that had to file bankruptcy in July.
According to a recent report from the National Bankruptcy Research Center, the Silver State saw approximately one in every 55 households face a bankruptcy filing through the first seven months of this year. That's more than twice the national average of one in every 125.
While Nevada continues to struggle, the rest of the nation experienced the first month-to-month increase in bankruptcy filings since March. However, the NBRC noted that numbers generally increase during July, so the 1 percent increase from the previous months did not represent a true trend reversal.
Still, Samuel Gerdano, executive director of the American Bankruptcy Institute, noted that filings are on pace to exceed 1.6 million.
"Debt burdens, unemployment and an uncertain economic climate continue to weigh on consumers," Gerdano said.
Recently, the Associated Press noted that Nevada continued to be the state facing the most economic stress in June. In determining its findings, the news organization considers unemployment, foreclosures and bankruptcy filings.
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